Malaysia Morning News For July 5

Malaysia Morning News For July 5

Malaysia morning news

Malaysia: Lotte Chemical Titan raises $878m in country’s biggest IPO since 2012
Malaysia’s Lotte Chemical Titan Holding raised about 3.77 billion ringgit ($878 million) from an initial public offering (IPO) after pricing its shares at the bottom of an indicative range.
Deal Street Asia 

UEM Edgenta secures RM75.5 million Health Ministry’s job
UEM Edgenta Bhd has bagged a contract worth RM75.5 million from Health Ministry for the provision of hospital support services at the National Cancer Institute, Putrajaya.
New Straits Times 

Pahang Attracts RM56.9 Bln Investments, Create 53,565 Jobs
Pahang has attracted investments amounting to RM56.9 billion as of May 2017, creating 53,565 job opportunities, said the East Coast Economic Region Development Council (ECERDC).
Malaysian Digest 

Trading ideas: Aeon Credit, UEM Edgenta, Kawan Food, F&N
Aeon Credit, UEM Edgenta, Kawan Food and Fraser and Neave (F&N) are among the stocks which could see trading interest on Wednesday after their corporate news, says JF Apex Research.
The Star Online 

McDonald’s Malaysia to spend RM1.4b on expansion
McDonald’s Malaysia is investing RM1.4 billion to increase the number of its outlets to 450 nationwide by 2025.
The Star Online

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MClean Technologies acquiring 100 pct stake in Singapore’s Sonic Clean
MClean Technologies Bhd is acquiring a 100 per cent stake in Singapore-based Sonic Clean Pte Ltd for SGD2.02 million from Unisteel Technology Ltd and Medi-Flex Pte Ltd.
New Straits Times 

Second half of 2017 set to be positive for stock market, says Pacific Mutual
The second half of 2017 will continue to be positive for the stock market but valuations are becoming rather expensive, said Pacific Mutual Fund Bhd.
New Straits Times 

Chinese deities flown on business class to Malaysia
Images of three revered Chinese deity statues went viral on social media after they were seen travelling in business class on a flight from China’s port city of Xiamen to the Malaysian capital Kuala Lumpur. But what is the story behind it?

Venturing upstream through Petros
The state-owned oil and gas (O&G) company is expected to commence operations early next year.
The Borneo Post 

Sarawak’s largest property expo back for its 20th instalment
The Sarawak Housing and Real Estate Developers Association’s (Sheda) property expo is back again this year for its 20th instalment at the Borneo Convention Centre Kuching (BCCK) from July 14 to 16 2017.
The Borneo Post 

Middle-income group in need of rent-to-own schemes
National House Buyers Association of Malaysia (HBA) said the middle-income group in Malaysia is in dire need of rent-to-own schemes, warning that the country could face a housing crisis in the form of a “homeless generation”.
The Edge Markets 

Jho Low gave at least US$200m to celebs’ charities
Malaysian deal-maker Jho Low allegedly stole from the poor of Malaysia to give to charities linked to American celebrities. New York Post reported that Jho Low gave at least US$200 million to various ‘celeb’ charities.
The Edge Markets 

Price Of Imported Rice May Rise
The Ministry of Agriculture and Agro-Based Industry has not dismissed the possibility that the price of imported rice may rise in future since it is not a controlled item.
Malaysian Digest 

No New Policy On Foreign Ownership In Insurance Companies – BNM
There is no new policy on foreign ownership in insurance companies, said Bank Negara Malaysia.
Malaysian Digest 

Bombardier Keen To Support KL-SG HSR
Bombardier Transportation, the rail equipment division of the Canadian firm, Bombardier Inc, is keen to support the Kuala Lumpur – Singapore High Speed Rail (KL-SG HSR), especially in terms of rolling stock, signalling segments and maintenance services.
Malaysian Digest 

Exports Of Malaysia’s Palm Oil, Palm Oil Products To Exceed RM70 Bln This Year
Malaysia’s export of palm oil and palm oil products this year is expected to exceed RM70 billion from the RM67 billion registered in 2016, with Europe, India and China remaining the top three importing countries.
Malaysian Digest 

Intel chief received RM7m weeks before GE13, claims S’wak Report
Whistleblower site Sarawak Report has made new revelations about the transactions that had supposedly gone through Prime Minister Najib Abdul Razak’s personal bank accounts in the run-up to the 13th general election.

Money for Nothing: Why report on the ringgit is misleading
Quoting Bloomberg, which in turn relied on the analysis of a financial company, Shroeders, the Malaysian authorities argued that “ringgit Malaysia (RM)” was the strongest among a basket of Asian currencies, including that of Japan and China.

Taking cleanliness seriously for sake of their business
IN JANUARY 2016, the Selayang Municipal Council (MPS) ordered all 24-hour eateries to close for at least two hours a day to clean up their premises.
The Star Online 

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IGB to present revised takeover bid to shareholders
IGB Corp Bhd will present the revised terms of its takeover offer by Goldis Bhd to its shareholders for deliberation, before making a decision to take it private.
The Star Online 


Feature photo John Walker
Find our previous morning news feature photos in the AEC News Today Morning News Feature Photos gallery where you will find a pictorial display of daily life throughout the Asean Economic Community (AEC).

Malaysia morning news is published M-F by AEC News Today: Governance, not government; policies not politics.



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Leakhena Khat

Leakhena is a junior journalist at AEC News Today who is also currently studying International Relations, which she finds adds perspective to her work reporting on the Asean Community.

“I love what I am doing so much as it gives me a lot of great experience and provides challenges to my mind.

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